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Refer to the following figure. The price of capital is $50 per unit: K 200 Units of capital Q = 1,200 Q = 800 60

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Refer to the following figure. The price of capital is $50 per unit: K 200 Units of capital Q = 1,200 Q = 800 60 Q = 400 0 120 250 375 500 Units of labor What is the minimum cost of producing 1,200 units of output? a. $9,000 b. $11,000 c. $7,000 O d. $8,000 e. $10,000

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